ITALY: Tax Hikes Hit Tod's H1 Results

Upscale shoe and leather goods group Tod's on Wednesday reported a 17.3 per cent year-on-year plunge in first half net profit despite a jump in turnover. The company cited higher taxes and unusually strong year-ago results for the fall but said pre-tax profit fell 1.5 per cent to 22.7 million euros from the year-ago period and added turnover climbed 14.2 per cent to 167.1 million euros.

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